New Delhi: The government has received bids worth Rs 9,500 crore so far from the fifth tranche of CPSE Exchange Traded Fund (ETF), an official said on Friday.

Anchor investors had put in bids worth Rs 6,072 crore on the first day of the issue on 19 March. The issue closed on Friday.

The remaining amount of subscription worth about Rs 3,500 crore came in from institutional and retail investors.

Representational image. Reuters.

"The subscription for CPSE ETF has touched Rs 9,500 crore so far. We will exercise the green-shoe option and retain over-subscription," an official said. Final subscription data would come by the end of the day.

The government had set Rs 3,500 crore as the base issue size for the three-day issuance of the fifth tranche of CPSE ETF. As much as 30 percent of the issue size is reserved for anchor investors.

Through the earlier four tranches of the CPSE ETF, the government has already raised Rs 28,500 crore-Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore in January 2017, Rs 2,500 crore from the third in March 2017 and Rs 17,000 crore in November 2018.

The government has exceeded the disinvestment target set for current fiscal ending March 2019 by Rs 5,000 crore, taking the proceeds to Rs 85,000 crore.

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